Director, Network Management, Governance and Revenue Optimization

BMO•Toronto, ON

6d•CA$110,500 - CA$192,500•Onsite

About The Position

As part of BMO’s North American Retail & Small Business Payments department, the Director, Network Management, Governance and Revenue Optimization leads a team that is accountable for three distinct areas of the business: (1) Pricing (2) MasterCard and Visa Governance, and (3) Value Added Services. This role is a Team Lead position with 2 direct reports.

Requirements

6-8 years financial management experience
3–5 years partner relationship management experience
Minimum undergraduate university degree, an MBA or other post-graduate degree, or equivalent industry related experience preferred
Excellent business acumen and strategic planning
Proven ability to establish conducive working relationships with partners and managers across different business units and groups
Proven ability to influence without authority and drive change
Excellent communication skills (oral and written) with ability to frame and effectively communicate complex problems
Excellent problem solving skills
Strong financial, quantitative, analytic and business casing skills
Proven ability to manage multiple facets of a complex business and effectively prioritize most important business levers and initiatives
Strong time management and project management skills
Team-oriented, collaborative and flexible
Leadership skills
Strong attention to detail

Nice To Haves

3–5 years payments experience preferred
Strong track record delivering results in ambiguous and challenging situations
P&L management experience
BMO organizational knowledge an asset
Risk management experience an asset
Project management experience an asset

Responsibilities

End-to-end ownership of pricing for retail and small business credit cards in Canada: including changes to interest rates, fees, rewards policies, and automated customer level pricing programs.
Leadership of periodic pricing change initiatives – for example changes to product interest rates or fees, changes to risk based pricing programs. This team is responsible for leading the full cycle of product changes: ideation, socialization with stakeholders, leadership approval, implementation and testing, measurement and reporting, etc.
Customer experience improvements: working with the NARP customer experience team and stakeholders in Virtual Connect to identify opportunities to increase NPS as it relates to customer pricing – both in terms of managing pricing changes and ongoing issues related to customer pricing elements.
Financial Management: collaborating with NARP finance team to track key revenue drivers and provide input on forecasting and financial results in key lines such as FX revenue, fee revenue, interest, etc.
The Director is accountable to manage BMO’s partnership with MasterCard and Visa on behalf of North American Retail Payments and other areas of the bank.
The incumbent will develop and execute a partnership management strategy designed to optimize BMO’s financial performance, risk management, and customer experience through its partnership with MasterCard and Visa. The incumbent will also support team members in the creation and execution of effective governance strategies for other critical partnerships.
Relationship Management: The incumbent serves as the strategic contact for internal and partner stakeholders on network relationships. This includes: working with senior BMO leaders to develop and execute strategies and plans to maximize value from network partnerships; supporting contract negotiations; nurturing the partnership and acting as key primary point of contact at BMO; leading work within BMO related to managing the network relationships and acting as the primary point of contact and subject matter expert for BMO colleagues on matters related to the network partnerships.
Operational planning and Performance Management: Accountable for managing all contractual and partnership management obligations and ensuring both BMO and networks are performing effectively against business objectives. This includes effective performance management of the Partner and ensuring that all key performance indicators (KPIs) and service level agreements (SLAs) are met. It also includes working with network partners and internal stakeholders to optimize the relationship and its operations, and to resolve any issues that arise. The incumbent will also support colleagues in developing and executing effective partnership governance frameworks for other critical partners, including monitoring partner performance, identifying opportunities to improve and addressing performance issues.
Risk & Control: The incumbent is accountable to introduce and sustain controls to manage Contract, Legal, Outsourcing and Operational Risks. This includes developing a deep understanding of the risks of the relationship, putting in place effective controls to mitigate any risks, monitoring performance and key risk indicators to identify any concerns and addressing any key risks that materialize.
Financial Management: The incumbent is accountable for effective financial management of the networks. This includes developing a deep understanding of all contract financial drivers, working with Finance and other stakeholders to build an effective governance framework to forecast results, validate invoices and report performance, and proactively identifying and pursuing opportunities to improve financial performance. The incumbent will also support colleagues in developing and executing effective financial governance frameworks and controls for other critical partners.
Management of a set of cardholder benefits and value-added services that are available to all credit card holders – including but not limited to: Concierge services, identity protection, airport lounges, mobile device insurance, embedded roadside assistance etc.
Leadership of the Value-added services strategy refresh – as part of NARPs Ambition 2030 strategy, a new strategy was developed to optimize, refresh and innovate in the space of value added services.
Effectively manage all contractual and supplier management requirements for existing and new partners
Liaise with other lines of business including other areas of the payments team (Acquisition, Small Business, Customer Engagement) and more broadly across the bank (Segments, other product groups)
Manage risk related to the portfolio and ensure compliance with all laws, rules and BMO policies
Customer experience: assistance in resolving customer escalations related to value-added services, and implementing changes to processes to avoid customer issues.